Dollar buoyant as Fed readies to step up inflation fight - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

  • 📰 SABCNews
  • ⏱ Reading Time:
  • 21 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 51%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

The dollar hovered near a two-year high against a basket of currencies on Thursday, after meeting minutes showed the Federal Reserve preparing to move aggressively to head off inflation.

The US dollar index, which measures the greenback against six majors, touched its highest since May 2020 overnight at 99.778 and held nearby at 99.575 in early Asia trade.

They also showed general agreement about cutting $95 billion a month from asset holdings which had ballooned during the pandemic. “The market has been slow to accept the reality that quantitative tightening is coming much sooner than previously expected,” said Brent Donnelly of analytics firm Spectra Markets. “This should keep stocks heavy and the dollar supported into the May 4th Fed meeting,” he said.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Couple of months ago I came across a recommendation about AmelieBtc1 wealth how he helped investors to earn lots of money with their investments. and I decided to give a trial with the little I have. Now my little has turned into something great which was not my expectation

africaupdates As the dollar is waning, where are we as South Africans, what measures are put in place to revive our economy and be less dependent on foreign investors and resources? SASOL was and is still the biggest invention from this country however since 94 it has been stagnant..

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 37. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines